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PORTLAND-One of the people involved in growing the finance division of Norris Beggs & Simpson from $69 million in loan production to $329 million over the past eight years is taking an ownership role in the company. Ken J. Griggs, who joined the company’s finance division in 1993, will be the only partner who comes from the finance side of the commercial real estate services operation.

“I think it’s important to have a partner who has a strong understanding of the real estate finance side of the industry,” says Griggs. “It’s imperative that we continue to grow the mortgage banking side of our business, and in a partnership role I will be instrumental in helping NB&S move forward, adapt, and keep our strategic edge.”

Griggs joins five others in the ownership of the company: President J. Clayton Hering, Joseph F. Wood, H. Roger Qualman, Jan Robertson, and Chris Johnson. “(Griggs’) strong background in finance makes him a valuable addition to the partnership, and will add a fresh element to the company’s ongoing development of our culture, vision and strategic initiatives,” says Hering.

In 1993, when Griggs joined the firm, the finance department completed over $67 million in loan production. In 2000, the department completed over $329 million in loans committed and closed. Since joining NB&S, Griggs alone has originated finance transactions of roughly half a billion throughout the Northwest.

Much of the money Griggs has had to lend out can be attributed to the correspondent network and loan servicing relationships built under the leadership of Wallace E. Harding, CMB, Senior Vice President. The relationships give the company access to billions of dollars from major life insurance companies, pension funds, conduits and real estate investment trusts for placement into quality investments.

Griggs, who holds real estate licenses in Oregon and California, says his new status as partner doesn’t change the work that still needs to be done. “When I came here in 1993, many people didn’t even know we were in the mortgage business,” says Griggs. “Since then, we’ve been trying to get that message out. We have made great strides, but we are still not on the tip of everyone’s tongue.”

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